Dubai investment firm Trussbridge led a consortium of Middle East investors to acquire a majority stake in Canadian food firm La Maison Cannelle.

Headquartered in Quebec, Canada, La Maison Cannelle was founded in 2005 and is a provider of 80 different types of Gluten-Free products in Canada. The transaction amount is not disclosed. (Dubai-based Trussbridge is founded by Samer Katerji and Rody Yared, two former investment bankers from JPMorgan Chase and Citigroup, to advise and invest in deals across the world).

Trussbridge announced that it has arranged and led a consortium of investors from the Middle East to acquire a majority stake in La Maison Cannelle, a leading specialized food producer in the health and wellness food segment based in Quebec, Canada. As part of the acquisition, the Trussbridge consortium will invest in capacity expansion as well as organic growth. Trussbridge Advisory Holding acted as the exclusive advisor on the transaction, while Trussbridge Investments led the consortium of regional investors participating in the transaction.

Headquartered in Richmond, Quebec, Canada, La Maison Cannelle is a leading purveyor of artisan Gluten-Free products. Founded by Elizabeth DuPont in 2005, La Maison Cannelle operates in one of the fastest growing segments of the health and wellness food sector in North America, with c. 10% growth and expected market size of US$17bn by 2016.

La Maison Cannelle enjoys strong brand recognition with a diverse portfolio consisting of more than 80 different types of Gluten-Free products, divided into four categories, namely: Bread & Bakery, Dessert, Prepared Meals and Dry Products. The Company distributes its products through a range of conventional retail chains and natural food supermarkets, including key Canadian supermarkets such as Metro. The products are also supplied to locally-based restaurant chains and hotels.

Rody A. Yared, Co-Managing Director of Trussbridge , said: “This transaction is a testament to the Firm’s ability to act as a bridge between companies in North America and investors in the Middle East. Through our presence in Canada, we were able to identify and structure the transaction, while on the other hand we raised capital from Middle East investors looking to get exposure to the sector. Additionally, Trussbridge introduced a new management team to drive the future growth of the Company under the leadership of Frederic Blaise, a highly experienced and recognised executive in the North American food sector.”

Samer A. Katerji, Co-Managing Director of Trussbridge , added: “We believe the Agri-Food sector, or more precisely the health and wellness food segment, represents a highly compelling opportunity. La Maison Cannelle is an attractive business with solid fundamentals and we are pleased to support its ambitious expansion plans, including entry into the US market as well as the Middle East at a later stage.”

Frederic Blaise, newly appointed CEO of La Maison Cannelle, added: “La Maison Cannelle is a creative niche manufacturer of high quality Gluten-Free products. The Company has strong growth prospects in North America and I believe we can offer both differentiated and superior authentic products in the Middle East.”